Follow up matters most...

[Mark Fries]

I just wanted to share this story to highlight the importance of continual follow up on leads..

18 months ago I was driving for dollars here in Jacksonville FL, and I seen a for sale sign by a realtor taped to the front of a quad plex. The 2 units on the top are residential and the 2 units on the bottom are commercial. 3 of the 4 are rented.

I called and it was listed for 220k. I thought it was peculiar because I know my area very well and I did not see this on loop net or MLS. Turns out the realtor had it listed on some form of commercial MLS that I am either unaware of or nobody looks at it. Regardless I drew up a owner financing offer for 20% down and owner holds the note and they rejected it. I told the realtor to keep my number and call me if anything changes and I also emailed every 90 days for the past 18 months.

I gotta call 48 hours ago from the realtor that the owner is now in financial trouble and needs to dump the property for 125k cash.. I waited one hour and I called back and offered 100,000 cash, close immediately, and the offer was accepted and we are closing in 4 days.

Once I get the 4th unit fixed up and rented out my gross each month should be well over 2700. All other aspects of the building are in near perfect condition.

So in summary, the most important thing that I can tell everybody is to always follow up no matter what!

[Mark Fries]

@Frank Wong

Something told me to go for the jugular while they were down...lol